Study Break

On NAIOP member Jack Schultz’s list of Top 10 Development Trends for 2008, one really stands out. Following Kalamazoo, MI; Newton, IA; and El Dorado, AZ, have promised to pay for the college education of anyone who completes grade and high schools. In light of of the economic flux that we are currently in, this seems like a bold incentive package that inverts the traditional concentric circles of economic development. Instead of corporate tax incentives to bring jobs and improvements to the community, these communities are funding higher education to attract (and educate) people, then entice employers needing educated labor, with the net effect of driving retail, and higher-end residential development as a way to lift the general economy.